CANADA STOCKS-TSX falls more than 2 pct as oil price weakness weighs

Fri Jan 15, 2016 10:51am EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* TSX down 284.73 points, or 2.31 percent, at 12,051.30

* All 10 of the TSX's main groups fall

* 13 declining stocks for every gainer

TORONTO, Jan 15 (Reuters) - Canada's main stock index fell more than 2 percent in morning trading on Friday, pressured by a sustained slide in crude oil prices that weighed on energy shares as well as banks, industrial and consumer names.

The index is heading for a more than 3 percent drop for the week, as the low oil prices hurt Canada's substantial energy sector and economic worries more broadly gave investors reason to retreat.

Crude is near 12-year lows as the market braces for increased Iranian oil exports once international sanctions are lifted, possibly within days.

At 10:20 a.m. EST (1520 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 284.73 points, or 2.31 percent, at 12,051.30.

It has fallen more than 9 percent since returning from the Christmas break.

The most influential movers on the day were banks and energy stocks. The country's largest lender, Royal Bank of Canada , fell 2.7 percent to C$67.70, and one of its biggest drillers, Canadian Natural Resources lost 6.5 percent to C$24.21.   Continued...